NBU: GDP growth in nine months exceeds 5%

2011-10-24 17:27:26

GDP growth in Ukraine in the first nine months of 2011 has exceeded 5%, the National Bank of Ukraine (NBU) has said in an analysis of economic figures.

"GDP dynamics corresponded to the dynamics of the production index of basic industries, i.e. in the first nine months there was a slight increase in the cumulative increase with a slowdown in GDP growth in September. According to the calculations of the [central bank's] department, GDP growth in nine months exceeded 5%. Based on these data, GDP growth in the third quarter could be estimated at over 6%, and excluding the seasonal factor, it is about 3%," the National Bank of Ukraine said.

The growth in the production index of basic industries in September slowed to 10.5% in annual terms, compared to 11.6% in August against the backdrop of the high base of comparison last year. In the first nine months of 2011, it grew by 10.2% compared to the same period in 2010.

"Agricultural production made the main contribution to growth in the production index of basic industries and GDP," reads the statement.